Yahoo News

Donald Trump, the American president from 2017 to 2021, said he knew more about trade than most economists and foreign-policy experts. “Trade wars are good, and easy to win,” Trump famously declared in 2018. He described himself as a “Tariff Man” and proved it by imposing new tariffs on hundreds of billions of dollars of U.S. imports, to be paid by the American firms buying those goods. Trump’s dubious logic was that making imports costlier to Americans would hurt the foreign… Source link

Chipotle (CMG) on Tuesday posted fourth-quarter earnings report that mostly beat market expectations, with growth driven by a digital boom accounting for nearly 42% of sales, sending its stock on a tear in after-hours trading. Here’s what the California-based company reported, compared to Wall Street’s expectations, according to a Bloomberg consensus estimate: Shares of Chipotle, which were down nearly 3 percent compared to a year ago, spiked by over 7% in post-market trading after the… Source link

NFL commissioner Roger Goodell last week celebrated Tom Brady’s retirement by hailing him as “an incredible competitor and leader” and noting “his stellar career is remarkable for its longevity” and “sustained excellence.” Just seven years ago, Goodell and the NFL were using media allies to brand Brady as a cheater, wrongly suspending him after a federal court battle, and eventually ending and hiding the results of an experiment that would have all but cleared him of… Source link

President Biden has an enviable problem: The economy under his watch is doing a lot better than voters give him credit for. In the latest update of the Yahoo Finance Bidenomics Report Card, Biden’s grade on the economy rose from B+ to A-. This isn’t our opinion. It’s what the numbers tell us. We developed this methodology at the beginning of the Trump administration, with the help of Moody’s Analytics, and we’ve kept it in place for Biden. We determine each president’s grade by… Source link

The pandemic has been transformational for many businesses, but few can boast near-global domination the way Pfizer (PFE) can. The Pfizer/BioNTech (BNTX) vaccine accounts for 70% of all doses in the U.S. and E.U., as of February 5, according to CEO Albert Bourla Tuesday. He added that the vaccine and other Pfizer medicines reached 1.4 billion patients in 2021, or about one in six people on Earth. As a result, the company saw a 92% increase in operational revenue growth in 2021 alone, of which… Source link

It’s the second week of February. We don’t even have an NFL champion yet. But fantasy football discussion is a year-long pursuit. Today’s assignment is to look at name-brand players who were previously first-rounders but likely to move out of that exclusive club next season. The arrow is moving in the wrong direction. Heck, in some cases, maybe the cheese has gone bad. Everything here is written in pencil, of course. Although I am a staunch advocate that high-volume Best Ball drafting is… Source link

The explosive growth in passive trading, a fear of missing out, and a blind faith in “celebrity CEOs” have contributed to froth in high growth tech names, according to Harvard lecturer and renowned writer Vikram Mansharamani. Now, the author who made a name spotting market bubbles in his book “Boombustology: Spotting Financial Bubbles Before They Burst,” says another one may be about to pop. “I believe a passive investing bubble has been brewing and may, in fact, have started showing some… Source link

The LinkedIn posts of departing Peloton employees (and those people in the industry willing to help them) are piling up on Tuesday, one comes from the former CEO of Precor. Peloton spent $420 million to buy commercial fitness giant Precor in December 2020 as it sought to build out production capacity to support its then views of strong future demand. It stands as the company’s largest acquisition in its history. The acquisition gave Peloton 625,000 square feet of U.S. manufacturing capacity… Source link

An actor in an infamous Peloton advertisement.Peloton Peloton is firing over 2,800 employees — about 20% of its corporate staff. The severance package for those fired employees includes a one-year Peloton membership. CEO John Foley is also stepping down after a challenging quarter and slowing demand for the product. Peloton is firing over 2,800 employees — 20% of its corporate workforce — because of an ongoing downturn in the company’s business. As part of the severance plan for the over… Source link

A top Treasury official on Tuesday is expected to make the case to Congress that there are gaps in the framework for stablecoins, should they become widely used by households and businesses. As lawmakers and the White House weigh oversight of the booming cryptocurrency sector, regulators and policymakers need to monitor stablecoins closely, according to Nellie Liang, Undersecretary for Domestic Finance. Liang is testifying before the House Financial Services Committee as the sole witness on… Source link